Tesla Q2 deliveries fall on China’s COVID-related shutdown – ET Auto

Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.

In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.

Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China’s prolonged lockdown.

Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.

Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla’s history, the company said in a news release.

GM, which lost its crown as the U.S. sales leader last year for the first time since 1931 to Toyota, said it sold 582,401 vehicles in the quarter through June, 15% lower than a year earlier.

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